“This fund will give small businesses, start-ups and individuals the support they need to better attract private investment and go on to create the blockbusters of tomorrow,” – Ed Vaizey, minister for culture and the digital economy.
Games developers across the UK are invited to apply for a share of a new £4 million Government fund to help boost the nation’s growing video games industry.
They’re encouraged to apply to the Video Games Prototype Fund, which will offer grants of up to £50,000 over the next four years to support video game projects and create new jobs, as well as nurturing talent and furthering the growth of games ‘clusters’ throughout the UK.
According to the UK Government, the fund, which will be administered from offices in Dundee and London, has been designed to help smaller companies get their concepts off the drawing board and into production.
It will also provide extra support to the sector which has already given us the likes of global blockbusters Tomb Raider, Little Big Planet, Runescape, Monument Valley and Batman: Arkham Knight.
The fund forms part of a package of measures the Government has introduced specifically for the sector which also includes tax reliefs.
Minister for culture and the digital economy Ed Vaizey said: “Britain’s video games punch well above their weight internationally and we need to build on this and invest in the strength of our creativity. This fund will give small businesses, start-ups and individuals the support they need to better attract private investment and go on to create the blockbusters of tomorrow.”
According to the latest figures, the UK’s video games industry currently generates more than £4.5 million* a day for the economy and directly employs more than 19,000 people.
Key features of the new fund include:
Grants of up to £25,000 to help new and young games development businesses create working prototype games.
Grants of up to £50,000 for a limited number of projects to take their ideas beyond the prototype phase.
Talent development initiatives – this will include competitions for students and graduate teams to create and showcase new games, mentoring for businesses and individuals, and opportunities for talented individuals to work on games prototype projects.